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blighted house next door has hit the

2012-06-29 01:26:43.384629+00 by Dan Lyke 10 comments

The blighted house next door has hit the city's legal dept and is up for sale! Needs demo & replacement.

[ related topics: Photography Law Real Estate ]

comments in descending chronological order (reverse):

#Comment Re: made: 2012-07-02 17:23:12.232464+00 by: petronius

.....removing the house would run us a couple tens of thousands.

That's why they invented disposable lighters.

#Comment Re: made: 2012-06-30 01:10:22.102814+00 by: Larry Burton

Too bad he sold the company he could have used it to rehab the house.

#Comment Re: made: 2012-06-30 00:47:35.542386+00 by: Dan Lyke

Whereabouts unknown. We assume that someone finally figured out that he wasn't able to be independent and put him in an assisted living facility, but that's just us assuming the best.

The plot thickens slightly in that apparently his parents have been paying taxes on the house and the rumour has it that his father is a local mogul who recently sold a construction company for circa $100M.

#Comment Re: made: 2012-06-29 22:15:15.71108+00 by: other_todd

Dan, I went back to the older thread on the house and I don't see a later post on what I'm curious about: What was the status of the resident? Dead, vanished, Whereabouts Unknown? I realize you might still not know, but there's always a chance ....

#Comment Re: made: 2012-06-29 16:44:51.929589+00 by: meuon

$36k cash once bought a 3 story, 10k sqft brick building on E. Main Street. Reportedly, it later sold for $380k

#Comment Re: made: 2012-06-29 16:38:05.539322+00 by: TheSHAD0W

I've had some properties I was interested in, but not at the asking price, wind up selling to other people who weren't ashamed to make ridiculously low offers. Tell 'em $100K, see if they jump.

#Comment Re: made: 2012-06-29 16:05:41.222927+00 by: Dan Lyke

I've thought about more shop space, but mortgage money (either directly or by opportunity cost) is about (or at least) $600/month per hundred grand, and can I justify $1800 a month for more shop space? Not really.

It could be repaired and rented, but at what they're asking it's not a slam-dunk. The owner should be very motivated to sell, the city is now breathing down their neck with condemnation proceedings, but I think the general neighborhood attitude is that if a contractor wants to pick it up and flip it, we'll be super helpful, but any sort of "this block" effort is gonna wait to make the owner sweat a little bit more.

#Comment Re: made: 2012-06-29 15:02:07.528686+00 by: TheSHAD0W

Can the house be repaired and then rented out? Or converted to more shop space?

#Comment Re: made: 2012-06-29 13:58:45.723337+00 by: Dan Lyke

I think the lot is worth about what they're asking for it, the problem is that removing the house would run us a couple tens of thousands.

#Comment Re: made: 2012-06-29 10:21:16.87308+00 by: meuon

What is the lot worth? Can you and the neighbor on the other side split it?